Comerica Bank Has $2.14 Million Stake in Revvity, Inc. (NYSE:RVTY)

Comerica Bank lessened its stake in shares of Revvity, Inc. (NYSE:RVTY) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 19,178 shares of the company’s stock after selling 579 shares during the quarter. Comerica Bank’s holdings in Revvity were worth $2,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RVTY. Quarry LP boosted its position in shares of Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC increased its holdings in shares of Revvity by 4.6% during the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $266,000 after acquiring an additional 104 shares in the last quarter. Signaturefd LLC raised its position in shares of Revvity by 6.8% during the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock worth $186,000 after purchasing an additional 106 shares during the period. Finally, Westside Investment Management Inc. lifted its holdings in shares of Revvity by 0.8% in the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after purchasing an additional 108 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RVTY has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. KeyCorp raised their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Robert W. Baird decreased their price target on Revvity from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. Finally, The Goldman Sachs Group dropped their price objective on Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.64.

Revvity Price Performance

Revvity stock opened at $91.22 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $100.83 and its 200 day simple moving average is $111.17. Revvity, Inc. has a 12 month low of $88.53 and a 12 month high of $129.50. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 41.28, a PEG ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The business had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. During the same period in the prior year, the firm earned $0.98 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, July 18th. Revvity’s payout ratio is currently 11.91%.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.